In an intimate recognition of both responsible mining and climate leadership, Shell Philippines awarded certificates of carbon credits retirement to two operating projects of TVI Resource Development Philippines Inc. (TVIRD): Balabag in Zamboanga del Sur and Siana in Surigao del Norte.
Both were honored under the petroleum company’s Carbon Compensation Program, which allows business fleet and retail customers to offset unavoidable CO2 emissions by investing in reforestation and conservation initiatives.
The private ceremony at the company’s Makati headquarters was attended by key officers and staff from both projects and included a learning session on joint sustainability efforts, as well as a fellowship activity.
Shell Sales Manager for Commercial Fuels Jose Mari Macaspac officially handed the certificates to TVIRD President Michael G. Regino and Chief Finance Officer Cynthia S. Delfin.
TVIRD directly operates the Balabag Gold and Silver Project, which utilizes hybrid Merrill-Crowe and carbon-in-leach technology driven by diesel power.
Meanwhile, the Siana Gold Project is operated by the company’s wholly owned subsidiary, Greenstone Resource Corporation, and is equipped with a modern 1.1-million-ton-per-annum Outotec mill, gravity circuit, and carbon-in-leach (CIL) facility.
In terms of reforestation and conservation, both projects have a combined 1.8 million trees planted and grown, effectively offsetting carbon emissions and further ensuring a sustainable future for their respective host communities.
Grounded in climate responsibility
Shell officers imparted lessons on carbon credits, highlighting the importance of reducing the impacts of carbon emissions from industries that drive the economy. They also noted that while such emissions are inevitable, they can be balanced and supported by verified global climate projects.
The Carbon Compensation Program enables companies to offset unavoidable greenhouse gas emissions through carbon credits sourced from projects worldwide that actively remove or avoid CO₂, thus helping participating organizations demonstrate climate commitment while working toward long-term decarbonization, according to Shell.
“This partnership reflects our shared commitment to advancing sustainable solutions and supporting high-quality projects that deliver meaningful environmental impact. TVIRD and Greenstone were selected based on their strong alignment with Shell’s vision for responsible and sustainable development,” said Shell Philippines Commercial Fuels Account Manager Isabel Cuevas.
Shell noted that both companies demonstrate strong operational discipline, high environmental stewardship standards, and a clear commitment to sustainability. “By working together, we aim to accelerate progress toward climate goals while promoting practices that benefit both local communities and the global environment,” she added.
Greenstone was awarded for sequestering 900 tonnes of CO2-equivalent emissions into Shell’s global carbon credit portfolio in 2025. Similarly, the Balabag Project was awarded for sequestering 965 tonnes of CO2-equivalent emissions into Shell’s global carbon credit portfolio in 2024.
The group’s responsible mining practices, which focus on community development and alignment with long-term environmental and social goals, inspire confidence in Shell’s vision for a sustainable and resilient industry that balances operational excellence with responsible value creation.
Models for sustainable mining
The awarding of carbon credits adds significance to the TVIRD Group’s prior achievements and validates its holistic approach — from exploration and development to mining and final rehabilitation.
The company developed its projects under a sustainability framework that integrates environmental and community considerations with conservation efforts.
Parallel to this, it has built a reputation for maintaining very high environmental and safety standards, which contributed to its recent Presidential Mineral Industry Environment Awards for both projects in 2025.
The joint efforts of TVIRD and Shell demonstrate how resource development and climate consciousness can coexist through transparency and the active adoption of global climate goals. These also align with long-term sustainability strategies to reduce carbon footprint and advance responsible practices that support a sustainable mining industry.
A low-carbon future
The global fight against climate change is anchored in the UN’s Paris Agreement, a legally binding treaty adopted in 2015 that commits all member countries to limit global warming to well below 2°C, with a goal of capping it at 1.5°C above pre-industrial levels. This agreement requires nations to submit and regularly update their Nationally Determined Contributions (NDCs), which outline emission-reduction targets and climate strategies.
The largest contributors to global warming today include China, the United States, India, and the European Union, driven primarily by fossil fuel use in energy production, transport, and heavy industries such as steel, cement, and mining.
Against this backdrop, the Philippines has pledged to reduce greenhouse gas emissions by 75% by 2030, conditional on international support, while pursuing low-carbon development and resilience-building as part of its climate agenda.
The mining industry, though a source of emissions, plays a critical role in supplying essential minerals such as nickel, copper, and cobalt, which are vital to renewable energy technologies and the global energy transition. Within this context, TVIRD contributes by integrating emissions management with responsible resource development, aligning with initiatives such as Shell’s Carbon Compensation Program, and reinforcing its long-standing environmental commitments through reforestation, community livelihood partnerships, and award-winning safety programs.
TVI Resource Development Philippines Inc. is owned in part by TVI Pacific Inc. (TSX: TVI), a publicly-listed Canadian mining company focused on the exploration, development, and production of precious and base metals from district-scale, large-system, high-margin projects located in the Philippines. Concurrent ownership of ventures is shared with partner company Prime Resource Holdings Inc.
Directly following its Canatuan Gold-Silver and Copper-Zinc Projects, the Agata Nickel Laterite Mine is the third successful mining project that TVIRD brought on stream in a period of 10 years, while its Balabag Gold-Silver Mine further cements its position as a steady producer of precious metals in the country. With the commercial operations of its Siana Gold Mine, the company remains committed to exploration and mining practices that promote transparency, responsible stewardship of the environment, and the inalienable rights to life, dignity and sustainable development of its host communities.
